Neighbours watching over home insurance premiums

23 August 2005
A decline in neighbourhood spirit could have a negative impact on the price of home insurance premiums, a new study suggests.

Research by Neighbourhood Watch and Post Office Home Insurance reveals that 3.5 million Britons do not even know the names of their neighbours.

In addition, 60 per cent of Britons believe that crime levels are rising. However this figure is significantly lower among Neighbourhood Watch members, standing at just 18 per cent.

Claire Oldstein, head of home insurance at the Post Office, has thrown her support behind Neighbourhood Watch schemes, arguing that they can lead to lower home insurance premiums as well as providing residents with support and reassurance.

"It is clear that Neighbourhood Watch members benefit from their local schemes and the feeling of safety and community they bring," she said.

Ms Oldstein added: "Less crime in an area also means lower household premiums for all so everyone benefits."

There are approximately 160,000 Neighbourhood Watch schemes in the UK covering six million households.

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